Pakistan Company News – Annual general meeting of Al-Abbas Sugar Mills Limited to be held on January 26, 2019

Annual general meeting of Al-Abbas Sugar Mills Limited to be held on January 26, 2019

Karachi, Al-Abbas Sugar Mills Limited informed Pakistan Stock Exchange that annual general meeting of the company is scheduled to be held on January 26, 2019 at Karachi.

The agenda of the meeting will be confirming the minutes of Annual General Meeting held on January 26, 2018, to receive, consider and adopt the Annual Audited Financial Statements for the year ended September 30, 2018 together with the Reports of the Directors and Auditors thereon, to declare and approve the cash dividend for the year ended September 30, 2018 on the ordinary shares of the Company. The Directors have recommended a final cash dividend at 500% i.e. Rs. 50.00 per share. This is in addition to the interim dividend 30% i.e. Rs. 03 per share already paid. The total dividend for 2017-18 will thus amount to Rs. 920.2019 million i.e. Rs. 53.00 per share, to appointed auditors for the ensuing year, and to fix their remuneration and to elect eight directors as fixed by the Board of Directors in accordance with the requirements of the Companies Act, 2017 for a term of three years commencing from January 28, 2019.

Further, the closed period of the company is from January 19, 2019 to January 26, 2019 (both days inclusive).

Al-Abbas Sugar Mills Limited is a company incorporated in Pakistan on May 2, 1991 as a public limited company. The foundations of the company are laid under the Companies Ordinance, 1984. The principal activities of the company is manufacturing and sale of sugar, processing and sale of industrial ethanol, manufacturing and sale of Calcium Carbide and Ferro alloys, generation and sales of electricity and providing bulk storage facility. The stocks of the company are quoted on the Karachi Stock Exchange of Pakistan. The registered office of the company is located in Karachi.

The manufacturing facilities of the company are located at Mirpurkhas, Thatta and Karachi. The company has also entered into agreement of supply of Carbon Dioxide gas at its Ethanol division.

The symbol “AABS” is being used by the stock exchanges for the shares of Al-Abbas Sugar Mills Limited.

Leave a Comment